Introducing Fee Sharing: Empowering vePTP Holders through Revenue Distribution
This article highlights the success of the first snapshot vote and unveils the exciting Fee Sharing arrangement with implementation plan for a smooth transition.
Hello, everyone! The first snapshot vote has successfully passed the consensus check, representing a significant step forward in our mission to improve our platform.This major accomplishment sets the stage for an exciting announcement: the introduction of a Fee Sharing arrangement that we can’t wait to tell you about in this article.
The Fee Sharing arrangement, as proposed and approved by the community, is designed to prioritize the welfare of vePTP holders. Under this system, 100% of the ongoing fees will be allocated to vePTP holders. To facilitate fee distribution in PTP, we will first buy back PTP tokens before arranging the sharing of fees.
It is important to note that this Fee Sharing only applies to newly generated fees. We have set aside a surplus reserve of 1.4 million to handle compensation needs. For more information about compensation, please refer to this article: https://bit.ly/3xP85Og
Implementing these proposed changes requires dedicated time and effort. We estimate that the entire process will take around 3 to 4 months to complete. During this period, we will focus on various aspects of implementation to ensure a smooth transition for our users.
One important part of the implementation involves updating the DApp’s frontend to include a new claim section. This addition will provide a user-friendly interface for users to easily access and claim their entitled benefits within the ecosystem.
Additionally, we will be conducting a PTP buyback program, aiming to repurchase PTP tokens from the market. This initiative will further strengthen the value and stability of the token economy.
We understand the importance of keeping our community updated. We are committed to providing timely information and keeping our users engaged throughout the process.
Our goal is to create a strong and fair ecosystem that rewards vePTP holders for their contributions. Through ongoing distributions, buybacks, and airdrops, we aim to empower our community members and strengthen their connection to the platform. Our vision is to foster a vibrant and thriving ecosystem where every participant can enjoy the benefits of their involvement.
As we wrap up this article, we want to express our sincere gratitude to our amazing community for their unwavering support and active engagement in shaping the future of our platform. Stay tuned as we continue working hard to bring these improvements to life!
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Introducing Fee Sharing: Empowering vePTP Holders through Revenue Distribution was originally published in Platypus.finance on Medium, where people are continuing the conversation by highlighting and responding to this story.